The marketing world dynamics have been continuously shifting, influenced by the shortening attention spans of buyers and the transformative power of technological advancements.
MBA students, especially the ones with marketing specialization should be aware of the latest trends that are making buzz in the marketing world. These current trends are the results of the efforts of the marketing gurus to keep up with the evolved nature of consumer behavior and - also offer unprecedented opportunities for businesses willing to embrace change.
Let’s delve into 5 such trends in Marketing that every MBA should keep track of-
Top Trends Making Buzz in Marketing that MBAs Should Know
Short-form Video Content
Short-form video content has become a game-changer for marketers around the globe. Platforms like TikTok, Instagram Reels, and YouTube Shorts not only entertain users but also drive real-world purchases… This trend of leveraging the appeal of short-form videos is expected to continue, with 53% of marketers using them by 2024.
According to Neil Patel, the Chief Marketing Officer of NP Digital, interactive videos establish a deep connection with potential customers, making them an invaluable tool for promoting brands.
Influencer Marketing
Collaborating with social media influencers offers a direct route to an engaged audience seeking connectivity, emotional response and authenticity The influence wielded by influencers allows brands to establish genuine connections with their target audience. As per a survey, 84% of marketers plan to increase their investment in influencer marketing in 2024. Notably, micro-influencers with 10,000 to 100,000 followers are gaining traction, providing a cost-effective solution without compromising success.
Digital Marketing
Undoubtedly, digital marketing stands as the linchpin of 21st-century marketing strategies, set to be worth $786.2 billion globally by 2026. Offering the ability to connect with a global audience, digital marketing transcends geographical boundaries. With comparatively low costs, strategies like SEO, social media, and content marketing provide cost-effective ways to reach potential customers worldwide. Real-time customer interactions through various online channels offer valuable feedback and create multiple touchpoints that can enhance conversions and sales.
Personalized Marketing
Personalized marketing, also known as bespoke marketing is another marketing buzz that MBAs should keep a tab of in 2024. Marketers are analyzing consumer behavior through the lens of AI and machine learning, and helping businesses deliver personalized experiences to their customers. As customers continue to expect tailored interactions, the rise of personalized marketing is expected to continue.
Podcasting
Starting out in 2024, the number of Podcast listeners is expected to reach 504.9 million by the end of 2024, with the revenue touching a total of US$1,877.00m. A podcast works much like a radio show, except for one major difference - You can subscribe to a podcast and listen to it anytime you want. Choosing guests wisely and effective promotion is pivotal for podcast success. The demand for captivating and engaging audio content is high, and businesses can capitalize on this to expand their audience and boost engagement.
Conclusion
Short-form videos, influencer marketing, personalized campaigns, captivating podcasts, and the expansive reach of digital marketing are the trends reshaping the Marketing Industry. Recognizing the growing influence of these elements is important for forming effective strategies for business development and elevating brand value.
Embracing these trends is not just about staying current; it’s about engaging with customers in ways that resonate with today’s generation. It’s about creating a dialogue that defines the future of marketing. As you navigate this evolving landscape, consider the benefits of furthering your business acumen with SKIPS School of Business. Our program equips MBA students with the latest knowledge and tools to excel in today’s marketing arena.